Summary: In the 207th Board Meeting held on September 30, 2024, the Securities and Exchange Board of India (SEBI) approved several amendments aimed at streamlining reporting requirements for listed entities. Key changes include the introduction of a single filing system, allowing companies to file reports with just one stock exchange, which will automatically disseminate the information to others. This move reduces duplication and administrative burdens. Filings will be integrated into two broad categories—governance and financial—to minimize redundancy. Additionally, shareholding patterns and credit ratings will now be disclosed automatically, enhancing accuracy and timeliness. Companies will have the option to publish financial results digitally rather than in newspapers, cutting costs and reaching a broader audience. The time allowed for disclosing board meeting outcomes has been extended from 30 minutes to 3 hours if the meeting concludes after trading hours, enabling more accurate disclosures. The disclosure timeline for litigation and disputes has been expanded from 24 to 72 hours if the information is stored in a structured database, ensuring careful assessment of materiality. Moreover, only material tax litigations need to be disclosed, reducing unnecessary reporting, and fines or penalties will only need to be reported if they exceed specified thresholds, streamlining overall compliance.
| Sr. No. | Particulars | Current Requirement | Amendment | Impact |
| 1. | Single Filing System for Listed Entities | Companies must file reports with all stock exchanges | Introduction of a single filing system where filings are made on one Stock exchange and disseminated automatically to others. | Reduces duplication and administrative burden, ensuring synchronized filings across exchanges. |
| 2. | Integration of Periodic Filings | Separate filings for Governance and financial information. | Integration into two broad categories: Integrated Filing (Governance) and Integrated Filing (Financial) | Reduce the number of filing, avoids redundancy and simplifies organisation |
| 3. | System-Driven Disclosures | Shareholding pattern and credit ratings disclosed manually by companies. | Automations of shareholding pattern and credit rating revisions by stock exchanges | Reduces manual effort, ensures accuracy, and accelerates disclosure Timelines |
| 4. | Optional Newspaper Advertisement for Results | Companies must publish financial results in newspapers. | Publishing financial results in newspapers is now optional | Reduces cost and shifts focus to digital dissemination, which has wider reach. |
| 5. | Additional Time for Board Meeting Outcomes | Outcomes must be disclosed within 30 minutes of board meeting Conclusion | Companies now have 3 hours to disclose outcomes if the meeting concludes after Trading Hours. (ie after 4.00PM) | Allow more time to prepare accurate and complete disclosures, reducing pressure. |
| 6. | Extended time for Litigation/Dispute Disclosures | Litigation/Dispute must be disclosed in 24 Hours | Time extended to 72 hours if the information is maintained in a structural digital database. | Provides additional time for accurate reporting, ensuring careful assessment of materiality |
| 7. | Disclosure of Tax Litigation Based on Materiality | All tax Litigations must be disclosed | Only material tax litigations and disputes need to be disclosed. | Reduces unnecessary reporting of immaterial tax issues, focusing on significant matters. |
| 8. | Disclosure of Fines/Penalties Based on Thresholds | All fines and penalties must Disclosed regardless of size. | Fines/penalties must only be disclosed if they meet thresholds: Rs.1 lakh for sector reg1ulators, Rs.10 lakhs for others. | Streamlines reporting by focusing on significant fines/ penalties, reducing unnecessary minor disclosures. |
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